Under this scenario, the maximum one-quarter loss due to transaction exposure is approximately ( 2.30% | -30.30% | -4.30% | -0.03% ) with 95% confidence.

Under this scenario the maximum one-quarter loss due to transaction exposure is approximately ( -121.21% | -7.30% | -0.13% | -0.70% ) with 95% confidence.

4. Transaction exposure based on value at risk Suppose that Colorado Co., a U.S. based MNC, seeks to assess its transaction exposure using the value-at-risk (VaR) method over the next quarter. It fluctuations typically offset. loss lies within 1.65 standard deviations below the expected change with 95% confidence. Under this scenario, the maximum one-quarter loss due to transaction exposure is approximately with 95% confidence. Now suppose that, based on updated data, the expected change in the euro is 4.00%. All else remains unchanged. Under this scenario the maximum one-quarter loss due to transaction exposure is appro with 95% confidence. Based on these results, the larger (in magnitude) the expected change in the euro, the the maximum loss will be